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First Bitcoin ETF could be coming soon as court rules in favor of Grayscale over SEC; JPMorgan sees ‘limited downside’ for crypto markets over the near term

First Bitcoin ETF could be coming soon as court rules in favor of Grayscale over SEC; JPMorgan sees ‘limited downside’ for crypto markets over the near term

Weekly Update: 31 August 2023

1) First Bitcoin ETF could be coming soon as court rules in favor of Grayscale over SEC [CNBC]

  • The U.S. Court of Appeals for the D.C. Circuit has paved the way for bitcoin exchange-traded funds.

2) JPMorgan sees ‘limited downside’ for crypto markets over the near term [The Block]

  • The crypto markets experienced a correction and liquidations this month, but the challenging phase has likely passed, according to JPMorgan.

3) ARK Invest, 21Shares join queue to offer Ethereum futures ETF[Cointelegraph]

  • The co-filing comes just a week after reports emerged that the Securities and Exchange Commission is likely to greenlight Ethereum ETF applications.

4) China launches blockchain-powered data exchange [Cointelegraph]

  • The platform will facilitate the buying and selling of Web3 data among enterprises, with Alibaba Cloud and Huawei among the companies to participate.

5) Colombian peso stablecoin goes live on Polygon, aiming for $10B remittances market [CoinDesk]

  • Stablecoin issuer Num Finance has rolled out a Colombian peso-pegged token on the Polygon network, the company said Thursday in a press release.

6) Default of tokenized loans on centrifuge puts MakerDAO’s investment at risk [CoinDesk]

  • MakerDAO has lent $1.84 million of DAI stablecoin to the tokenized credit pool under distress.

7) Elon Musk’s X moves closer to crypto payments with new state license [Cointelegraph]

  • Regulators from Rhode Island have approved X’s application for a currency transmitter license.

8) Hashdex joins race for spot Bitcoin ETF with unique strategy [Cointelegraph]

  • Hashdex’s approach differs from recent filings as it won’t depend on the Coinbase surveillance sharing agreement.

9) SEC issues first enforcement action targeting NFTs [CoinDesk]

  • The agency ruled Impact Theory’s NFTs were sold as unregistered securities.

10) South Korean Crypto Exchanges Required to Prepare at Least $2.26M in Reserves [TokenInsight]

  • South Korean officials mandate crypto exchanges to maintain a minimum of 3 billion won (approximately $2.26 million) in bank reserves to ensure user compensation in case of security breaches like hacking incidents.

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DigiFT and Theoriq Partner to Pilot Tokenized Money Market Fund Collateral in on-chain Lending

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Collaboration aims to demonstrate how regulated tokenized assets can be used as productive collateral within institutional DeFi credit markets while preserving the compliance controls governing the underlying asset. SINGAPORE / PANAMA CITY, 8 JULY 2026 – DigiFT and Theoriq have signed a memorandum of understanding to collaborate on a controlled pilot using tokenized money market fund collateral in an on-chain